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Front view of HCL Technologies
|Traded as||BSE: 532281
|Industry||IT services, IT consulting|
|Founded||11 August 1976|
|Shiv Nadar (Chairman & CSO)
C Vijayakumar (President & CEO)
|Services||IT, business consulting, and outsourcing services|
|Revenue||US$6.975 billion (FY'17 Q4 LTM)|
|US$1.4 billion (FY'17 Q4 LTM)|
|Profit||US$2.364 billion (FY'17 Q4 LTM)|
Number of employees
|115,973 (March 2017)|
HCL Technologies Limited is an Indian multinational IT services company, headquartered in Noida, Uttar Pradesh, India. It is a subsidiary of HCL Enterprise. Originally a research and development division of HCL, it emerged as an independent company in 1991 when HCL ventured into the software services business. HCL Technologies (the abbreviation of Hindustan Computers Limited) offers services including IT consulting, enterprise transformation, remote infrastructure management, engineering and R&D, and business process outsourcing (BPO). HCL also provides services for next-gen technologies such as DRYiCE, Cybersecurity and Digital & Analytics.
The company has offices in 34 countries including the United States, European countries like France and Germany, and Northern Ireland in the United Kingdom. It operates across a number of sectors including aerospace and defense, automotive, consumer electronics, energy and utilities, financial services, government, industrial manufacturing, life sciences and healthcare, media and entertainment, mining and natural resources, public services, retail and consumer, semiconductor, server and storage, telecom, and travel, transportation, logistics, and hospitality.
HCL Technologies is on the Forbes Global 2000 list. It is among the top 20 largest publicly traded companies in India with a market capitalisation of $18.7 billion as of May 2017. As of May 2017, the company, along with its subsidiaries, had a consolidated revenue of $7.0 billion.
In the summer of 1976, a group of six engineers, all former employees of Delhi Cloth & General Mills, led by Shiv Nadar, started a company that would make personal computers. Initially floated as Microcomp Limited, Nadar and his team started selling teledigital calculators to gather capital for their main product. On 11 August 1976, the company was renamed to HCL.
On 12 November 1991, a company called HCL Overseas Limited was incorporated as a provider of technology development services. It received the certificate of commencement of business on 10 February 1992 after which it began its operations. Two years later, in July 1994, the company name was changed to HCL Consulting Limited and eventually to HCL Technologies Limited in October 1999. HCL is the abbreviation of Hindustan Computers Limited.
HCL Technologies is one of the four companies under HCL Corporation, the second company being HCL Infosystems. In February 2014 HCL launched HCL Healthcare. HCL TalentCare is the fourth and latest venture of HCL Corporation.
HCL Technologies began as the R&D Division of HCL Enterprise, a company which was a contributor to the development and growth of the IT and computer industry in India. HCL Enterprise developed an indigenous microcomputer in 1978, and a networking OS and client-server architecture in 1983. On 12 November 1991, HCL Technologies was spun off as a separate unit to provide software services.
HCL Technologies was originally incorporated as HCL Overseas Limited. The name was changed to HCL Consulting Limited on 14 July 1994. On 6 October 1999, the company was renamed 'HCL Technologies Limited' for a better reflection of its activities. Between 1991 and 1999, the company expanded its software development capacities to the US, European and APAC markets.
Following the rebranding as 'HCL Technologies Limited', the company went public on 10 November 1999, with an issue of 14.2 million shares, valued at ₹4 each. During 2000, the company set up an offshore development centre in Chennai, India, for KLA-Tencor Corporation. In 2002, it acquired Gulf Computers Inc.
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Most HCL Technologies offices are not in the USA, but it does operate in 34 countries, including its headquarters in Noida in India. It has establishments in Australia, China, Hong Kong, India, Indonesia, Israel, Japan, Malaysia, New Zealand, Saudi Arabia, Singapore, South Africa, the United Arab Emirates and Qatar. In Europe it covers Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Sweden, Switzerland and the United Kingdom. In the Americas, the company has offices in Brazil, Canada, Mexico, Puerto Rico, and the United States.
On 7 September 2005, HCL Technologies expanded its operations base in the counties of Armagh and Belfast in Northern Ireland. At the 2006 UK Trade and Investment India Business Awards in New Delhi, the then UK Prime Minister Tony Blair announced the expansion, which was aimed at creating more IT and BPO jobs in the area. HCL Armagh and HCL Northern Ireland acquired the Armagh-based Answerall Direct earlier in 2005. HCL BPO services in Ireland are carried out through its main delivery centres in Armagh and Belfast. In November 2011, after HCL revealed an expansion plan in the Irish Republic county of Kilkenny, its Business Process Outsourcing (BPO) division in Northern Ireland won a contract for back-office services from the Department of Health. It was aimed at increasing the number of jobs and other employment opportunities in the region.
Power of One is an employee-driven, management supported initiative that focuses on transforming social projects and activities. As a part of this initiative, the company has undertaken:
Additionally, since 2006, the company conducts monthly and biennial concerts to provide a platform for upcoming young Indian classical artists to showcase their talent.
HCL runs a multi-layered program Go Green as a part of its continued sustainability initiatives.
In addition, it is also:
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